Super Micro Computer (NASDAQ:SMCI) Stock Price Up 3.2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shares traded up 3.2% during trading on Thursday . The stock traded as high as $45.67 and last traded at $44.47. 40,540,883 shares traded hands during trading, a decline of 42% from the average session volume of 70,222,521 shares. The stock had previously closed at $43.11.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMCI. JPMorgan Chase & Co. decreased their target price on Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. KGI Securities assumed coverage on Super Micro Computer in a report on Wednesday, May 7th. They set a “neutral” rating on the stock. Rosenblatt Securities reduced their price target on shares of Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Northland Securities set a $59.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Super Micro Computer to a “sell” rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.63.

Super Micro Computer Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.95 and a current ratio of 6.66. The company has a market capitalization of $27.05 billion, a P/E ratio of 23.84 and a beta of 1.40. The firm’s fifty day moving average is $38.58 and its 200 day moving average is $37.45.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, analysts predict that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Super Micro Computer

In related news, CFO David E. Weigand sold 67,000 shares of Super Micro Computer stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the sale, the chief financial officer now owns 88,599 shares in the company, valued at $3,900,127.98. This trade represents a 43.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Liang sold 300,000 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the completion of the sale, the chief executive officer now directly owns 66,903,640 shares of the company’s stock, valued at approximately $3,010,663,800. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 667,000 shares of company stock valued at $29,949,340 in the last quarter. 17.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently modified their holdings of the stock. New York Life Investment Management LLC grew its stake in Super Micro Computer by 907.8% in the fourth quarter. New York Life Investment Management LLC now owns 67,585 shares of the company’s stock worth $2,060,000 after purchasing an additional 60,879 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Super Micro Computer in the 4th quarter worth $209,000. US Bancorp DE grew its position in shares of Super Micro Computer by 1,147.3% during the 4th quarter. US Bancorp DE now owns 28,863 shares of the company’s stock worth $880,000 after buying an additional 26,549 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Super Micro Computer by 842.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,065 shares of the company’s stock valued at $723,000 after buying an additional 21,512 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Super Micro Computer by 561.3% in the fourth quarter. LPL Financial LLC now owns 675,605 shares of the company’s stock valued at $20,592,000 after acquiring an additional 573,439 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

About Super Micro Computer

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.